Mumbai, India — Gold and silver prices surged to record highs on the Multi Commodity Exchange on Tuesday as investors moved into safe-haven assets amid mounting global trade and geopolitical tensions.
February gold futures opened higher at Rs 1,45,775 per 10 grams, compared with the previous close of Rs 1,45,639. Prices continued to climb sharply during the session, touching an all-time high of Rs 1,52,500 per 10 grams, a gain of Rs 6,861 in a single day.
The rally pushed gold past the Rs 1.50 lakh mark for the first time and marked the second straight session of gains, reflecting heightened risk aversion across global markets.
Silver also extended its strong upward momentum. March delivery silver futures jumped Rs 17,723 on Tuesday, following a rise of Rs 22,153 a day earlier. Prices reached a historic high of Rs 3,27,998 per kilogram, taking month-to-date gains to nearly 36 percent.
Market sentiment has been unsettled by growing concerns over escalating trade tensions, particularly following fresh tariff threats from U.S. President Donald Trump. He has warned European countries of potential trade action over issues linked to Greenland, prompting discussions within Europe about counter-tariffs and broader economic retaliation.
Uncertainty has been further fueled by Trump’s threat to impose 200 percent tariffs on French wine and champagne after French President Emmanuel Macron reportedly declined to join Trump’s proposed “Board of Peace” on Gaza. Together, these developments have intensified fears of a renewed global trade conflict.
Silver has emerged as one of the biggest beneficiaries of the current market environment. Strong investment demand combined with rising industrial usage has driven prices sharply higher. The metal crossed Rs 1 lakh per kilogram in October 2024 and took 14 months to reach Rs 2 lakh in December 2025. The next Rs 1 lakh increase, however, occurred in just 25 trading sessions, with silver touching Rs 3 lakh on Monday.
Analysts say the rally in precious metals underscores investors’ growing preference for safety as uncertainty continues to dominate global markets. (Source: IANS)
